GBTC supply chain intelligence for Grayscale Bitcoin Trust ETF: verified suppliers, customers, debt relationships, acquisitions, and ownership data.
Data compiled by Redley Lamar · ChainSifter Intelligence
| Ticker | Name | Confidence | Evidence |
|---|---|---|---|
| INDEX-PROVIDER | INDEX-PROVIDER | 92% | The Index Provider and the Sponsor have entered into the index license agreement, dated as of February 1, 2022 |
| ANCHORAGE-DIGITAL | ANCHORAGE-DIGITAL | 90% | Anchorage Digital Custodian Agreement —The Master Custody Service Agreement, dated as of August 8, 2025, between the Trust and Anchorage Digital regarding the custody and safekeeping of the Trust’s B… |
| COIN | Coinbase Global, Inc. | 90% | The Custodian has advised the Sponsor that it has insurance coverage pursuant to policies held by Coinbase Global, which procures fidelity (or crime) insurance coverage at commercially reasonable amo… |
| COIN | Coinbase Global, Inc. | 90% | Reciprocal relationship from COIN graph: Reciprocal relationship from GBTC graph: The Custodian has advised the Sponsor that it has insurance coverage pursuant to policies held by Coinbase Global, wh… |
| COINDESK-INDICES-INC | COINDESK-INDICES-INC | 90% | Index Provider —CoinDesk Indices, Inc., a Delaware corporation that publishes the Index. |
| COINBASE-CUSTODY-TRUST-COMPANY-LLC | COINBASE-CUSTODY-TRUST-COMPANY-LLC | 85% | Coinbase Custody Trust Company, LLC is the custodian (the “Custodian”). |
| COINBASE-INC | COINBASE-INC | 85% | Coinbase, Inc. is the prime broker (the “Prime Broker”) of the Trust |
| FORESIDE-FUND-SERVICES-LLC | FORESIDE-FUND-SERVICES-LLC | 85% | Marketing Agent —Foreside Fund Services, LLC. |
| BLSH | Bullish | 80% | Reciprocal relationship from BLSH graph: Reciprocal relationship from GBTC graph: Bullish is not available to U.S. based customers. |
| BLSH | Bullish | 80% | Bullish is not available to U.S. based customers. |
| CRYPTO-COM | CRYPTO-COM | 80% | Crypto.com does not hold a BitLicense. |
| GSIS | GSIS | 80% | Liquidity Providers with which GSIS, acting in its capacity as the Liquidity Engager, will engage in Bitcoin transactions are third parties that are not affiliated with the Sponsor or the Trust |
| KRAKEN | KRAKEN | 80% | Kraken does not hold a BitLicense. |
| LMAX-DIGITAL | LMAX-DIGITAL | 80% | LMAX Digital does not hold a BitLicense. |
| HZEN | Grayscale Horizen Trust (ZEN) | 72% | Reciprocal relationship from HZEN graph: the Authorized Participant may rely on one or more Liquidity Providers to source ZEN in connection with the creation of Shares. Any disruptions to such servic… |
| ZCSH | Grayscale Zcash Trust (ZEC) | 72% | Reciprocal relationship from ZCSH graph: e Authorized Participant may rely on one or more Liquidity Providers to source ZEC in connection with the creation of Shares. Any disruptions to such service … |
| Ticker | Name | Confidence | Evidence |
|---|---|---|---|
| BLSH | Bullish | 72% | Item 8.01. Other Events. On March 16, 2026, Grayscale Investments Sponsors, LLC (the “Sponsor”), the sponsor of Grayscale Bitcoin Trust ETF (the “Trust”), announced a change to the index price used t… |
| BLSH | Bullish | 72% | Reciprocal relationship from BLSH graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from BLSH graph: Reciprocal relationship from GBTC graph: Item 8.01. Other Events. On March 1… |
| BTC | BTC | 72% | Reciprocal relationship from BTC graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from BTC graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from BTC grap… |
| BTC | BTC | 72% | geous market. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. 81 The Trust on… |
| HZEN | Grayscale Horizen Trust (ZEN) | 72% | Reciprocal relationship from HZEN graph: in doing so may adversely affect the value of the Shares. In the event of a hard fork of the Horizen Network, the Sponsor will, as permitted by the terms of t… |
| ZCSH | Grayscale Zcash Trust (ZEC) | 72% | Reciprocal relationship from ZCSH graph: and in doing so may adversely affect the value of the Shares. In the event of a hard fork of the Zcash Network, the Sponsor will, as permitted by the terms of… |
| CO-LLC | CO-LLC | 62% | aff cannot and will not devote all of its or their respective time or resources to the management of the affairs of the Trust, the Sponsor intends to devote, and to cause its professional staff to de… |
| DIGITAL-CURRENCY-GROUP-INC | DIGITAL-CURRENCY-GROUP-INC | 62% | to investors. 104 Digital Currency Group, Inc. DCG is (i) the sole equity holder and indirect parent company of the Sponsor, (ii) the indirect parent company of Grayscale Securities, the Authorized P… |
| JANE-STREET-CAPITAL-LLC-VIRTU-AMERICAS-LLC | JANE-STREET-CAPITAL-LLC-VIRTU-AMERICAS-LLC | 62% | aff cannot and will not devote all of its or their respective time or resources to the management of the affairs of the Trust, the Sponsor intends to devote, and to cause its professional staff to de… |
| Holder | Name | Confidence | Evidence |
|---|---|---|---|
| GBTC-OWNER-HORIZON-KINETICS-ASSET-MANAGEMEN | HORIZON KINETICS ASSET MANAGEMENT LLC | 90% | 13F overlay lists HORIZON KINETICS ASSET MANAGEMENT LLC as top holder; 668 tracked holders. |
| Ticker | Name | Chain Index | Hops | Relationship Types |
|---|---|---|---|---|
| GXRP | Grayscale XRP Trust ETF | 100.00 | 2 | |
| RYDAF | Shell plc | 100.00 | 2 | |
| GSUI | Grayscale Sui Staking ETF | 100.00 | 2 | |
| BTC | Grayscale Bitcoin Mini Trust ETF | 100.00 | 1 | ['customer'] |
| LAC | Lithium Americas Corp. | 100.00 | 2 | |
| TWOD | Two Harbors Investment Corp. | 100.00 | 2 | |
| BTCW | WisdomTree Bitcoin Fund | 100.00 | 2 | |
| BWOW | Bitwise Dogecoin ETF | 100.00 | 2 | |
| GSOL | Grayscale Solana Staking ETF | 100.00 | 2 | |
| COIN | Coinbase Global, Inc. | 100.00 | 1 | ['supplier'] |
| CMBT | Cmb.Tech NV | 100.00 | 2 | |
| HZEN | Grayscale Horizen Trust (ZEN) | 100.00 | 1 | ['customer', 'supplier'] |
| BITW | Bitwise 10 Crypto Index Fund | 100.00 | 2 | |
| ETH | Grayscale Ethereum Mini Trust ETF | 100.00 | 2 | |
| CRMZ | CreditRiskMonitor.com, Inc. | 100.00 | 2 | |
| BITB | Bitwise Bitcoin ETF | 100.00 | 2 | |
| BSOL | Bitwise Solana Staking ETF | 100.00 | 2 | |
| ETHW | Bitwise Ethereum ETF | 100.00 | 2 | |
| BLBX | Blackboxstocks Inc | 100.00 | 2 | |
| SHG | Shinhan Financial Group Co., Ltd. | 100.00 | 2 |